Rogers Communications CEO Joe Natale is being replaced at Tony Telecieri’s Canadian telecommunications as interim president and CEO, the company announced late Tuesday.
Company president Edward Rogers thanked Natale for his “leadership and contributions.”
“As Joe moves on, we have an experienced interim CEO and leadership team who will continue to focus on the business, return to stability and close our transformation merger with Shaw,” Edward said in a statement, referring to the company’s deal for Shaw Communications.
The move, which was first reported by the Globe and Mail on Tuesday night, pitted members of the Rogers family against each other. It comes as the company tries to complete the $ 26 billion takeover of Shaw Communications Inc.
Eduardo Melinda’s sister said she, her sister Martha and mother Loretta all voted against replacing Natale.
“Joe is a world-class telecommunications leader, and as we have always said, we believe he is the right person to lead RCI as CEO,” Melinda said in a separate statement.
She went on to say that the decision “creates great uncertainty for RCI and its employees, customers, sports fans and shareholders, not to mention Shaw’s transaction.”
“This is simply another case in which Edward put his desire for uncontrolled control of RCI before basic good governance and responsible corporate governance.”
Rogers family in conflict over future
Edward – the son of company founder Ted Rogers – was ousted as president in October after Natale came to terms with a plot against him and alerted the board.
Saffieri, who was the company’s chief financial officer, left abruptly when the plot failed.
But Edward used his power as head of the voting trust, which controls 97 percent of the company’s voting shares, to fire five members of the board, replace them with his hand-picked elections and reinstate himself.
He was later declared the rightful seat by a court of British Columbia on November 5. The case was heard in BC because that is where the company is incorporated.
“Mr. Natale remains CEO and director of Rogers Communications and has the support of the board. ”- Ed., Nov. 5.
Guess he wasn’t pinky sworn.
When the BC court ruled in Edward’s favor, the family asked the judge to delay the implementation of her verdict until they could appeal, as they were afraid Edward would use his court victory to make immediate changes to the management team that would make any appeal. dubinda.
Edward’s lawyers assured the judge that he had no intention of doing so, so she denied the request for stay.
In a statement on the day of his court victory, Edward suggested that Natale’s future is secure at the company “Mr Natale remains CEO and Director of Rogers Communications and has the support of the Board,” he said on May 5. of November.
According to board member Robert Gemmell, the board “worked diligently and in good faith” to keep Natale on the job through the closing of the Shaw deal.
“Unfortunately, a mutually acceptable arrangement could not be reached,” Gemmell said in a statement Tuesday.